Atalanta Sosnoff Capital LLC Cuts Stake in ExxonMobil Corporation $XOM

Atalanta Sosnoff Capital LLC reduced its stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338,876 shares of the oil and gas company's stock after selling 24,932 shares during the period. Atalanta Sosnoff Capital LLC's holdings in ExxonMobil were worth $40,780,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Berbice Capital Management LLC purchased a new position in ExxonMobil in the fourth quarter valued at approximately $26,000. Midwest Capital Advisors LLC purchased a new position in ExxonMobil in the fourth quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in ExxonMobil by 456.1% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock valued at $27,000 after buying an additional 187 shares during the period. Key Capital Management INC purchased a new position in ExxonMobil in the fourth quarter valued at approximately $28,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in ExxonMobil in the fourth quarter valued at approximately $32,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ExxonMobil

In related news, VP Darrin L. Talley sold 1,080 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $155.50, for a total value of $167,940.00. Following the transaction, the vice president owned 17,124 shares in the company, valued at $2,662,782. This trade represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently owned by corporate insiders.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

ExxonMobil Stock Performance

Shares of NYSE:XOM opened at $146.80 on Friday. The business's fifty day moving average price is $152.09 and its two-hundred day moving average price is $142.36. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The stock has a market capitalization of $608.47 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 0.62 and a beta of 0.16. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to analysts' expectations of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 earnings per share. As a group, analysts predict that ExxonMobil Corporation will post 11.8 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.8%. ExxonMobil's dividend payout ratio (DPR) is currently 69.48%.

Analyst Upgrades and Downgrades

XOM has been the topic of a number of analyst reports. Scotiabank lifted their price objective on shares of ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 22nd. Wells Fargo & Company raised their price target on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Piper Sandler decreased their price objective on shares of ExxonMobil from $186.00 to $182.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. Bank of America raised their target price on ExxonMobil from $135.00 to $151.00 and gave the company a "neutral" rating in a research note on Monday, March 2nd. Finally, TD Cowen cut their price objective on shares of ExxonMobil from $175.00 to $172.00 and set a "buy" rating on the stock in a research note on Friday, April 10th. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $165.55.

About ExxonMobil

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil Corporation (NYSE:XOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.